Description: This discussion on annuities and settlement options focuses on: A. Revisions made recently in the interest and mortality bases for annuity contracts and retirement income policies and for settlement options embodied in life insurance policies. B. The extent to which the use of settlement options might be justified for payees other than the insured and beneficiaries who are natural persons. C. The practical problems arising in connection with: 1 Requests for elaborate or complicated settlements 2 Liberal settlement option guarantees in outstanding policies

Description: These are discussion papers on the paper, 'The ELAS Life Income Mortality Table' by Harry Walker. That paper describes the derivation of the ELAS Life Income Mortality Table, which has been adopted by the Equitable Life Assurance Society as the mortality basis for the life income option of the modes of settlement in its current series of policy forms and for the calculation of premiums under currently issued individual deferred annuity contracts.